Ashish Kacholia bought 2,88,185 shares & Rs 209.60 crore order book: Cable company incorporates a new subsidiary for Green Ammonia, Green Hydrogen & Green Methanol projects!
The stock gave multibagger returns of 360 per cent in just 1 year and a whopping 6,390 per cent in 3 years.
On Thursday, shares of Advait Infratech Ltd gained 1.54 per cent to an intraday high of Rs 1,999.60 per share from its previous closing of Rs 1,969.30. At the closing bell, shares of the company were trading at Rs 1,978.85 per share, up 0.48 per cent.
Advait Infratech Limited announces the incorporation of its wholly-owned subsidiary, A&G Hydrogen Technologies Private Limited. The new entity, with an authorized capital of Rs 1 lakh, is engaged in manufacturing, assembling, supplying and trading green tech equipment and products for green ammonia, hydrogen, and methanol projects, catering to the decarbonization needs of sectors like steel, petrochemicals, and refining. The company aims to form strategic partnerships within the green energy value chain to offer comprehensive solutions. As a wholly-owned subsidiary, A&G Hydrogen Technologies Private Limited is considered a related party to Advait Infratech Limited. The acquisition of 100 per cent shareholding in the subsidiary was completed through a cash investment of Rs 1 lakh by Advait Infratech Limited.
Earlier, the company secured a significant Rs 35 crore EPC contract from Power Grid Corporation of India to install OPGW cable in Ladakh, encompassing design, engineering, supply, testing, and commissioning over 25 months. Additionally, its subsidiary, Advait Greenergy Ltd, has bagged contracts totalling Rs 72.69 crore for two green energy projects in Gujarat: a 30 MW solar power plant in Khavda, valued at Rs 59 crore, and a 1 MW green hydrogen plant in Matar, worth Rs 13.69 crore, both under the EPC model.
Advait Infratech Ltd is engaged in providing products and solutions for power transmission, power substation, and telecommunication infrastructure fields. Also, it operates with various verticals such as turnkey telecommunication projects, installation of power transmission, telecom products, etc. As of March 31, 2024, the company has a Rs 209.60 crore order book.
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In Q1FY25, an ace investor, Ashish Kacholia bought 2,88,185 shares or 2.67 per cent in the company at Rs 1,388 per share (face value is Rs 10) aggregating to Rs 40,00,00,780 via preferential issue of shares.
Regarding the financials, Advait Infratech has a market cap of over Rs 2,000 crore with a 3-year stock price CAGR of 305 per cent. The company reported excellent numbers in its both Quarterly Results (Q4FY24) and annual results (FY24). The net sales increased by 46.2 per cent to Rs 59.73 crore and net profit increased by 106.2 per cent to Rs 7.23 crore in Q4FY24 over Q4FY23. The net sales increased by 100.4 per cent to Rs 208.85 crore and the net profit increased by 159.3 per cent to Rs 21.88 crore in FY24 over FY23.
The shares of the company have an ROE of 38 per cent and an ROCE of 38 per cent. The stock gave multibagger returns of 360 per cent in just 1 year and a whopping 6,390 per cent in 3 years. Investors should keep a close eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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